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of <h1>Government Amends Customs Tariff Rates: Key Notifications Revised to Lower Ad Valorem Rates from 40%/60% to 35%</h1> The Central Government has amended four existing customs notifications under the Customs Act, 1962, to adjust tariff rates in the public interest. Notification No. 161/83 and No. 180/84 have been revised to reduce the ad valorem rate from 40% to 35%. Similarly, Notification No. 109/86 has been amended to change the rate from 40% to 35% for a specified item, and Notification No. 118/86 has been modified to decrease the rate from 60% to 35% for another specified item. These amendments aim to align the tariff rates more favorably.
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